Genius Group cites GENIUS Act as it doubles Bitcoin stash to 200 BTC
Main Idea
Genius Group doubled its Bitcoin holdings to 200 BTC as part of its strategy to build a 10,000-BTC treasury reserve, citing the GENIUS Act as a catalyst for expanding its blockchain-based education initiatives and stablecoin ambitions.
Key Points
1. Genius Group acquired 20 BTC in July at an average price of $106,812 per BTC, resulting in a profit of $216,000 at the time of writing.
2. The company aims to increase its Bitcoin holdings to 1,000 BTC by the end of 2025 and reach 10,000 BTC within the next two years.
3. The GENIUS Act is expected to help Genius Group expand its blockchain-powered learning platform, Genius Academy, which awards students with tokenized education merits (GEMs).
4. Genius Group plans to pursue a PPSI license to enable direct stablecoin payments for digital certifications, leveraging the GENIUS Act's provisions.
5. Andrew Keys, CEO of Ether Machine, stated that Ethereum is the largest beneficiary of the GENIUS Act due to its role in hosting the majority of stablecoins.
Description
Singapore-based AI edtech firm Genius Group doubled its Bitcoin holdings to 200 BTC in July while expanding its crypto initiatives under the newly passed GENIUS Act.
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